How many ‘lords a leaping’?

'Lords a leaping'

Source: Wikipedia, The Twelve Days of Christmas song

I hadn’t noticed before, but there are any number of ‘lords a leaping’ in the well-known Christmas song, the Twelve days of Christmas – anything from 10 to 12, in fact! (Source: Wikipedia, Twelve Days of Christmas)

I wonder how many lords are ‘a leaping’ today, following the Chancellor’s Autumn Statement yesterday?  I’m sure there are not that many social enterprises ‘a leaping’, that’s for sure!

As you may know, I was a member of the working group that consulted on the Social Investment Tax Relief (SITR) that was highlighted in the Autumn Statement yesterday.  The outcome is disappointing at best.

Despite pointing out a clear solution to HM Treasury, in the form of the Social Enterprise Mark criteria to identify social enterprises, the Treasury have limited the impact of SITR to a small set of legal structures, where few organisations will benefit.

I’m clearly concerned that around 30% of Mark holders are potentially excluded from being eligible.  However, if this is the chosen method of applying social investment, we have yet to see if it will really address the resource needs of Mark holders anyway.

The Government  will publish its response to the consultation alongside draft legislation next week and I’ll be attending the next HM Treasury consultation in January, but I don’t expect to see a u-turn.

I doubt you’ll see ‘1 Lucy leaping’, thats for certain!

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2 responses to “How many ‘lords a leaping’?

  1. Further to the announced changes to the Community Interest Company (CIC) caps, the Social Enterprise Mark welcomes the removal of the CIC dividend share cap, which is line with the Social Enterprise Mark criteria. It’s good to see it simplified as the Mark does. In addition, we would like to have seen the CIC changes go further, with the aggregate dividend cap changing from 35% to 50% as the Social Enterprise Mark criteria.

  2. Pingback: Walking the talk? | Lucy Findlay

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